INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Poor financial control
|
|
|
Poor location
|
|
|
Management mistakes
|
|
|
Improper inventory control
|
Detailed explanation-1: -A primary reason why small businesses fail is a lack of funding or working capital.
Detailed explanation-2: -Inside the firm, poor management is a major cause of business failure, as it can lead to: Low morale-Employees may experience unfair treatment or a lack of work/life balance and opportunities to grow, which dampens their motivation to do their best and in return help the company grow.
Detailed explanation-3: -Lack of market research. Poor financial control. Poor management. All the above.
Detailed explanation-4: -Lack of research. Not having a business plan. Not having the business funding they need. Financial mismanagement. Poor marketing. Not keeping abreast of customer needs or the competition. Failing to adapt. Growing too quickly. More items •06-Jul-2021
Detailed explanation-5: -Poor cash flow management. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers.